Not sure how many of you guys are following Amplitude but they are slaughtered after they reported their earnings.
This is what they reported
- Fourth-quarter revenue rose to $49.4 million from $30.1 million and came in ahead of the FactSet consensus, which was for $47.0 million
- Amplitude’s customer count, which rose to 1,597 from 1,417 a quarter earlier
- Amplitude expects $50 million to $51 million in first-quarter revenue, whereas analysts had been expecting $51.3 million (that’s $300,000 to $1.3 million lower than the street expectation)
- It projects $226 million to $234 million in full-year revenue, while analysts were anticipating $235.8 million.
Just because it came slightly lower, the stock got crushed! That’s totally insane. No wonder why one analyst thinks it’s a buying opportunity. And another analyst from Morgan Stanley cut the PT from $70 to $34 but that means, it has a 100% upside from Thursday’s closing price. Yes, many people think it’s overdone.
Do your DD before you make any investment decision but I think this is a no-brainer. Hence, I made a significant investment on Thursday.